U.S. spot Bitcoin ETFs experienced $325.7 million in net outflows on June 5, led by BlackRock’s IBIT with $213.7 million withdrawn, coinciding with Bitcoin’s price falling below the key $60,000 support level to around $59,100. Analysts link the outflows and price drop to a more hawkish Federal Reserve outlook, with expectations of rate hikes reversing earlier cuts, which has dampened investor sentiment and institutional demand. Technical indicators show Bitcoin is oversold and near a critical support zone, with potential for a relief rally if buyers defend $60,000, but failure to hold this level could lead to a deeper decline toward $55,000 or lower. The ongoing ETF outflows highlight fragile institutional demand amid broader market uncertainty and increased volatility ahead.
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